Rabu, 09 Februari 2011

Top Interest Rate Headlines 02-09-11: Bernanke Says Unemployment to `Remain Elevated'

Bernanke Says Unemployment to `Remain Elevated' 
http://jlne.ws/fOjE3O

Fed Chair Bernanke: The Economic Outlook and Monetary and Fiscal Policy
http://jlne.ws/eJ5yKu

Tsy's Tim Geithner: Investing in Infrastructure to Build Up Middle-Class Jobs and Long-Term Growth
http://jlne.ws/ghjGO4

No deal for ECB's Weber to join Deutsche Bank: source 
http://jlne.ws/hsqqsI

'Panic Market' in Muni Bonds 
http://jlne.ws/gg8V1j

CME Group 2010 Interest Rate Highlights With CME Managing Director Of Interest Rate Products, Robin Ross 
http://jlne.ws/hhw94f

House GOP Fears 'Looming Fiscal Crisis' for States
http://jlne.ws/dS9ZkG

Weber leaves ECB race to more moderate candidates 
http://jlne.ws/gmfMDE

Banks Face Tougher Rules for Derivatives Under EU Plan
By Jim Brunsden
Banks may be forced to hold more capital to protect them from losses on derivatives trades and securities repurchase agreements under European Union proposals.
The possible measures, designed to cut "systemic risk across the financial system," would also encourage traders to pass derivatives deals through clearinghouses, the European Commission said in an e-mailed statement today.
http://jlne.ws/hqBidt

Osborne set to announce UK bank deal
By Patrick Jenkins, Financial Times
The long-awaited peace deal between the UK government and the banks is set to be announced at lunchtime on Wednesday, barring any last-minute hitches.
http://jlne.ws/gzNtz9

U.K., Banks Said to Announce Pay, Business Lending Agreement at Noon Today
Bloomberg
A deal between the British government and the country's biggest banks on pay and business lending, known as Project Merlin, is expected to be announced around midday London time, two people familiar with the discussions said today.
http://jlne.ws/gPDAzz

SEC to wean markets off credit ratings
Reuters.co.uk
Securities regulators on Wednesday will move to scale back markets' reliance on credit rating agencies, after the financial crisis laid bare the industry's shortcomings.
http://jlne.ws/h41z7m

U.S. to release plan to phase out Fannie, Freddie
By Dow Jones Newswires-Wall Street Journal
The White House will propose a path to wind down and eventually eliminate Fannie Mae and Freddie Mac and specify a range of options to replace the mortgage companies that have played a central role in the housing market for decades, according to people familiar with the matter.
http://jlne.ws/hzwBND

Federal Reserve issues proposals related to designation of systemically important nonbank financial companies
The Federal Reserve Board on Tuesday requested comment on a proposed rule that implements two provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act related to the designation by the Financial Stability Oversight Council of systemically important nonbank financial companies for consolidated supervision by the Board.
http://jlne.ws/he7spK

DTCC Names Ronald Jordan Chief Data Officer
Business Wire
NEW YORK--(BUSINESS WIRE)--The Depository Trust & Clearing Corporation (DTCC) has named Ronald Jordan, a 26-year industry veteran, to the new position of Chief Data Officer, effective immediately.
http://jlne.ws/eIFI6z

George Osborne's bank levy will be painful, but not life-threatening
Daily Telegraph
For Barclays, Lloyds Banking Group and Royal Bank of Scotland the increase will cost them each about L150m to ÂL200m extra this year, while for HSBC it is likely to cost the bank an additional ÂL280m.
http://jlne.ws/ieaIgB

Goldman Sachs Growth Strategy fund is 'poster child' for mediocrity
Boston Herald
It's the time of year when investors are looking over their results from 2010, examining annual reports and making...
http://jlne.ws/f5xfpJ

UBS Buys Back $1.5 Billion in Auction Rate Securities
BusinessWeek
Two UBS AG units agreed to repurchase $1.5 billion in auction rate securities sold in New Jersey, resolving allegations that the firms failed to fully disclose risks, state Attorney General Paula T. Dow said.
http://jlne.ws/glvtIQ

UBS cuts bonuses by 10pc despite return to profit
Daily Telegraph
Staff bonuses at UBS will be 10pc lower this year than in 2010 despite the Swiss bank returning to profit.
http://jlne.ws/h9eSdK

UBS CFO: Investment Bank Eyes Painful Cost Decisions
Dow Jones
UBS AG's (UBS) securities unit may have some painful decisions to make following a costly build-up of personnel in 2010 if revenue doesn't pick up, the Swiss bank's financial chief, John Cryan, told Dow Jones Newswires on Tuesday.
http://jlne.ws/hrtVpz

RBS Mulls Several Bids For Spanish Real Estate Loans - Source
Dow Jones
Royal Bank of Scotland Group PLC (RBS) has received a handful of bids for the GBP400 million worth of risky Spanish real estate loans, a person familiar with the situation told Dow Jones Newswires Tuesday.
http://jlne.ws/fKin7D

Deutsche Bank warns of fallout from swaps lawsuits
By James Wilson in Frankfurt, Financial Times
A lawyer for Deutsche Bank has warned senior judges in Germany that they could trigger a further financial crisis with a forthcoming decision in a dispute between the bank and a client over a derivatives deal.
http://jlne.ws/hlQq0z

Zawada Rebuilds PKO's Polish Stock Team as Credit Suisse, Goldman Expand
Bloomberg
PKO Bank Polski SA , Poland's largest bank, is rebuilding its team of equity analysts to compete with foreign rivals lured to the country by record share sales and rising stock volumes.
http://jlne.ws/gxfaGb

A.I.G. to Take $4.1 Billion Charge
NY Times
American International Group, the bailed out insurer, announced on Wednesday that it would take a $4.1 billion charge in the fourth quarter to "strengthen" reserves in its property and casualty business.
http://jlne.ws/g1aI1m

AXA in L150m settlement for software glitch
Computer Weekly
Financial services giant AXA will be forced to pay millions of pounds to clients after it emerged that errors in trading software were hidden by three of its subsidiaries, prompting bad performance in investment portfolios.
http://jlne.ws/hxO4VP

CalPERS sues Wall Street's top investment banks
The Sacramento Bee
CalPERS is suing many of Wall Street's top investment banks, seeking to recover hundreds of millions of dollars it lost in the Lehman Brothers bankruptcy.
http://jlne.ws/eX9wrA

Phoenix hires ex-HSBC executive Clive Bannister as new chief
Daily Telegraph
Phoenix, the insurer set up by serial entrepreneur Hugh Osmond, has hired a former HSBC executive as its new chief.
http://jlne.ws/hkaggX

Online Broker TradeKing Announces Enhancements to Fixed Income Center
Business Wire
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--TradeKing announced a new set of enhancements to its Fixed Income Center to help investors seeking to diversify their portfolios through fixed income offerings.
http://jlne.ws/e1KGXT

Michael Lewis: This Merill Lynch Analyst (And Zoologist) Saw The Irish Collapse Coming...
Business Insider
When Michael Lewis went to Ireland to investigate who and what brought the Irish economy to its knees, he discovered a man called Philip Ingram. At the height of the financial crisis, Ingram was an analyst for Merrill Lynch.
http://jlne.ws/dWryG9

Tourre to argue US cannot try him for fraud
By Francesco Guerrera and Kara Scannell, Financial Times
Fabrice Tourre, the Goldman Sachs banker facing civil fraud charges over a mortgage-backed security, will next week ask a judge to dismiss the regulator's lawsuit, arguing that US authorities cannot pursue cases involving foreign investors.
http://jlne.ws/hQGj3H

Speech By SEC Chairman Mary L. Schapiro: Remarks At The CCOutreach National Seminar
Good morning and let me add my welcome to the 3rd SEC and FINRA Broker Dealer CCOutreach National Seminar. It is a pleasure to be here with you again. Thanks to you, Carlo, for that generous introduction. And thanks to all of you for taking the time to be here today.
http://jlne.ws/e5nLoO

FINRA supports fiduciary duty for broker-dealers
Investment Executive
The head of the U.S. Financial Industry Regulatory Authority supports the adoption of a fiduciary standard for brokers, and calls for more straightforward disclosure of fees and conflicts.
http://jlne.ws/i7z2M4

Nervous about U.S. debt? You're not alone.
CNN Money
More investors appear to be betting that the United States' ever-rising debt load is going to get worse and are working to protect themselves against it.
http://jlne.ws/fEHTDB

Glencore's bashful bondholders
By Javier Blas
When Glencore issued a convertible bond in December 2009, the world's largest commodities trader said the $2.2bn issue had been taken up by some of the industry's blue-chip names. But several investors never went public.
http://jlne.ws/dWEB8k

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